The limited liability enjoyed by Jitters Coffee Company Corporation is a benefit that protects
A) its employees.
B) its Board of Directors.
C) its stockholders.
D) all of the above
C
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Industry concentration measures the extent to which
A) products are differentiated by the firms in the industry. B) the market is dominated by a small number of firms. C) the industry executives concentrate on their product. D) consumers are geographically concentrated.
Government intervention can increase total welfare when
A) there are costs or benefits that are external to the market. B) consumers do not have perfect information about product quality. C) a high price makes the product unaffordable for most consumers. D) all of the above E) A and B only
A world-renowned brain surgeon can type twice as fast as her secretarial assistant. Which of the following statements is true in this situation?
a. The secretary has an absolute advantage in typing. b. The surgeon should do her own typing to save money. c. The surgeon should fire the assistant and work weekends and evenings to stay up on her typing. d. The surgeon should spend her time doing brain surgery and allow her secretary to do the typing because the secretary has a comparative advantage in typing. e. The surgeon should spend her time doing brain surgery and allow her secretary to do the typing because the surgeon has a comparative advantage in typing.
The balance of payments accounts contain information about the
A. purchases of U.S. financial assets by foreigners. B. purchases of foreign financial assets by U.S. citizens. C. levels of U.S. exports and imports. D. All of the choices/statements are true.